Wall Street CEO AI Promise: Fewer People, But More High-Value People
KEY POINTS
- •Jamie Dimon admitted AI will eliminate jobs but said JPMorgan’s head count could still rise if efficiencies improve.
- •Brian Moynihan at Bank of America said AI cut 2,000 coders but staffing remains flat due to digital assistant Erica.
- •Jane Fraser leads Citi’s $2.5 billion turnaround involving 20,000 job cuts, driven by AI increasing developer productivity.
In a dazzling display of corporate optimism, four banking titans—Jamie Dimon (JPMorgan), Brian Moynihan (Bank of America), David Solomon (Goldman Sachs), and Jane Fraser (Citi)—wrestled the AI job apocalypse into a polite hostage situation. Jamie Dimon bluntly warned, 'AI will eliminate jobs' but simultaneously hinted JPMorgan's head count might rise if they do a 'good job,' insisting workers resist just adding more staff. Bank of America’s Moynihan bragged about chopping 2,000 coding roles using AI, while still claiming staffing is 'flat' thanks to Erica, their 1.4 billion digital connection-powered AI assistant. Over at Goldman, David Solomon promised more 'high-value people' despite reducing mid-level roles—a classic algebra where head count shrinks yet somehow rises. Jane Fraser at Citi quietly orchestrates a $2.5 billion cost-cutting ballet, eyeing 20,000 jobs to vanish while preaching AI-driven productivity's glory. So, while AI slashes workforces, Wall Street’s CEOs insist growth is just a matter of being 'disciplined'...with head counts that may or may not totally vanish by 2026.
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The Wall Street AI revolution politely fires thousands while demanding only the 'high-value' humans survive — good luck explaining that to your unemployed neighbor.
Wall Street CEOs love AI so much they’re firing the 'wrong people' and hiring sci-fi worthy 'high-value' humans instead. It's like pruning a bonsai tree that punches you back.
Apparently 'cutting roles' at Goldman Sachs means a mysterious magical increase in 'high-value' staff, proving math is optional if you're deposit-rich.
Source: Businessinsider | Published: 2/15/2026 | Author: Alex Nicoll,Alice Tecotzky
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